Every time we say we wish we could go back in time and change something, go ahead and make the change NOW so we won’t be kicking ourselves again 20 years later.
People mistakenly think it takes a long time to make a profit but that is not the case. Cash starts flowing in immediately and those earnings grow every year.
Nearly every time I see this rule used to reverse engineer the amount one needs to save for retirement, the calculation is done incorrectly. Because of this miscalculation, the amount of money that needs to be saved is underestimated.